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Paraguay ratified the World Trade Organization's Trade Facilitation Agreement on March 1, 2016, becoming the 70th WTO member – and the second South American member after Guyana – to do so.Read Full Story
The European Union on January 13, 2016, notified the World Trade Organization Secretariat that it has initiated a WTO dispute proceeding against Colombia regarding the South American country's taxation of spirits. Read Full Story
Following the close of its 2015 fiscal year, the Panama Canal Authority announced on October 9 that it set a new tonnage record, after welcoming 340.8 million Panama Canal tons through the Canal – a 4.3 percent year-on-year increase. Read Full Story
China and Colombia have expressed an interest in signing a bilateral free trade agreement. Read Full Story
The International Monetary Fund has welcomed Peru's decision to reduce the corporate income tax rate but said that the move should be accompanied by a broadening of the tax base. Read Full Story
South Korea's Deputy Prime Minister and Minister of Strategy and Finance, Choi Kyung-hwan, has confirmed that South Korea will use its free trade agreements with other countries to shore up the nation's economic growth potential. Read Full Story
On November 11, the Brazil-US Business Council signed a Cooperation Agreement with the Brazilian National Confederation of Industry to conduct studies on a potential free trade agreement between the two countries and report back to both Governments on their findings. Read Full Story
Colombia's Foreign Ministry announced on November 6, 2014, that the country has completed the domestic procedures necessary to fully implement a free trade agreement with the European Union and Peru. Read Full Story
Taxpayers in Paraguay are increasingly taking to the internet to pay their taxes, according to a report from the country's tax department. Read Full Story
The free trade agreement between Hong Kong and Chile, which was originally signed on September 7, 2012, enters into force on October 9, 2014. Read Full Story
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